Nigerian Stock Exchange suspends trading in 17 delinquent stocks

Conoil

The Nigerian Stock Exchange, NSE has suspended trading of 17 stocks of 17 delinquent companies after they continuously contravened the rules of the exchange.

Nigeria’s premier bourse said the suspension is pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of
Default Filing, Rulebook of The Exchange (Issuers’ Rules), which states that; “ If an Issuer fails to file the relevant
accounts by the expiration of the Cure Period,

The Exchange will: (a) send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) suspend trading in the Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”, trading in the shares of the following seventeen (17) companies have been suspended today, 5 July 2017:

See below the list of the affected companies:

1. African Alliance Insurance Plc
2. Equity Assurance Plc
3. Fortis Microfinance Bank Plc
4. Guinea Insurance Plc
5. Premier Paints Plc
6. Resort Savings & Loans
7. Sovereign Trust Insurance Plc
8. African Paints (Nigeria) Plc
9. Aso Savings & Loans Plc
10. Ekocorp Plc
11. Evans Medical Plc
12. Goldlink Insurance Plc
13. Great Nigeria Insurance Plc
14. Omatek Ventures Plc
15. Union Dicon Salt Plc
16. Union Homes Savings & Loans Plc
17. Universal Insurance Company Plc

In accordance with the rules set forth above, the suspension of the afore-listed companies will only be lifted upon
the submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all
applicable rules of The Exchange.